Dominic Browning, Managing Director — Posted by Dominic Browning
04/04/24

News, Resources, Insight and Opinion from Browning Financial Planning

Why our fees are competitive

Dominic Browning, Managing Director — Posted by Dominic Browning
04/04/24

I was recently shown the pricelist of St James's Place, a FTSE100 financial advice firm. I nearly fell off my chair.

To invest £100,000, they charge an initial fee of 4.5%, which is £4500. Our maximum fee is 1.5%, but we would typically charge 1% (£1000) for this size of investment.

If you invest a regular monthly contribution of £500, they will charge you 4.5% over the first 3 years, so a charge of £810. If it is a pension ,the charge will be £1,350, taken over 5 years. We charge NOTHING for regular premiums.

If you retire and transfer your SJP pension into a drawdown pension with them (you are already with them and paying charges), they charge a further 2%, in other words £2000. We charge NOTHING.

They are in the FTSE100 for one reason, they make a lot of profit from the charges they charge their clients.

If you know anyone who has their investments with St James Place (SJP), please ask them to give us a call.

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